Swissquote analyst Ipek Ozkardeskaya said Taiwan Semiconductor’s upward revision to capex expectations may have sparked market concern and contributed to the recent tech-sector sell-off. She noted TSMC’s Q2 profit reached a record but the stock did not rally, implying investors see chip valuations as rich. Ozkardeskaya warned investors are increasingly uneasy about overcapacity risk and large-scale AI buildouts even as tech firms keep spending. Upcoming US mega-cap earnings next week could ease

Swissquote analyst Ipek Ozkardeskaya said Taiwan Semiconductor’s upward revision to capex expectations may have sparked market concern and contributed to the recent tech-sector sell-off. She noted TSMC’s Q2 profit reached a record but the stock did not rally, implying investors see chip valuations as rich. Ozkardeskaya warned investors are increasingly uneasy about overcapacity risk and large-scale AI buildouts even as tech firms keep spending. Upcoming US mega-cap earnings next week could ease weak sentiment, but signs Alphabet and peers are further increasing infrastructure spend may add downside pressure on sector stocks.